ASEAN enjoys best business prospects

ASEAN enjoys best business prospects

SINGAPORE (AFP): ASEAN and to a large extent Greater China are
the regions with the best business prospects in 1996, according
to the results of an annual survey by the Far Eastern Economic
Review (FEER) released yesterday.

"ASEAN received a healthy 45 percent vote of confidence by
respondents as the region that represents attractive prospects
for business over the next year," L. Gordon Crovitz, editor and
publisher of the magazine, said.

The Association of Southeast Asian Nations groups the bustling
economies of Brunei, Indonesia, Malaysia, the Philippines,
Singapore, Thailand and Vietnam. Greater China encompasses
China, Hong Kong and Taiwan.

The FEER survey, The Review 200: Asia's Leading Companies,
will be published in the December 28-January 4 issue of the Hong
Kong-based magazine.

Some 4,000 business executives participated in the survey
conducted by the media research firm Survey Research Singapore.

Out of 11 Asian countries surveyed, only business decision
makers from India showed significantly less interest in Greater
China and more enthusiasm for Western markets such as North
America and Europe, the magazine said.

"However, they agree ASEAN holds the most potential," it said
in a statement received in Singapore.

"With the opening of the huge China market, it is only natural
that neighboring countries with investment capabilities and know-
how are rushing to claim their stakes," Crovitz said in the
statement.

"Countries within Greater China, Taiwan and Hong Kong in
particular, are also targeting their efforts within the region
itself," he added.

The ASEAN region received the highest score in the survey,
followed by Greater China, North America, Indo-China, Europe, and
Australia and New Zealand.

"Compared to respondents from other countries surveyed, only
Japan, with 41 percent, and Taiwan, with 32 percent, considered
North America to be good business prospects for their companies.

"ASEAN also received 50 percent of the votes by the Japanese
respondents," Crovitz said.

Thai business decision makers regarded Indo-China as the top
region for business prospects, and other ASEAN members recognized
Indo-China's potential as well. But non-ASEAN countries such as
Hong Kong, Taiwan, India, Japan and Australia put Indo-China at
the bottom of their lists.